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111 E 9th Street, Madrid, IA 50156

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For Sale
Sale Pending

$139,900

3 baths • 2,049 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $68.28
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

Discover the potential of this 3-plex multi-family property in the heart of Madrid. This property sits on a sizable double lot and requires some TLC but has a ton of potential! This property is being sold "As Is. It is perfect for savvy investors or those looking to expand their rental portfolio. This 2-story property features a total of 3 units, with 2 units on the main floor and 1 unit occupying the upper level. Each unit has 1 bedroom and 1 bath. Additionally, one of the lower-level units has a non-conforming bedroom/flex space providing additional square footage. Included in this sale is a. .23 acre lot to the north of the property, providing additional space for potential expansion or development projects. This valuable addition enhances the property's long-term investment appeal. A standout opportunity lies in the potential to increase rent rates, as they have remained the same for many years. This presents a clear pathway to boosting rental income and maximizing the property's profitability, making it an attractive proposition for investors seeking solid returns. Whether you're a seasoned investor or an aspiring property owner eager to kickstart your rental portfolio, this is a great investment!
MLS# 694100

Courtesy Of Iowa Realty Co., Inc.

(800) 247-2430

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Basement, Cable Ready
  • Appliances
    Refrigerator
  • Architecture Style
    Other
  • Exterior Type
    Asbestos
  • Floor Covering
    Carpet, Laminate
  • Heating Fuel
    Natural Gas
  • Heating System
    Forced Air
  • Lot Size
    0.2 Acres
  • Roof Type
    Asphalt
  • Rooms
    Basement, Full Bath

Map and Directions

Directions to 111 E 9th Street, Madrid, IA 50156

Home seller CENTURY 21 Signature Real Estate

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Signature Real Estate

(515) 233-2623
Learn More About Us

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Monthly Payment Breakdown

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  • Hazard Insurance
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  • Private Mortgage Insurance
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2024 Des Moines Area Association of REALTORS ®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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